KASBTC stochastic most oversold
KAS's price action recently has been divisive. It out-ran the rest of the market for almost an entire year and it's now trying to find a floor. The network has gotten fundamentally stronger since the price action slowed down (secondary assets are now a reality on the network, the hash rate has increased more and more and the KAS token is the only cryptocurrency being looked at by Grayscale, to join its small stable of digital currencies). For those of us who believe the project is the most revolutionary tech, in a practical sense, within the cryptocurrency market, the recent price action is just par for the course. But what do the charts tell us....
For anyone looking to minimise risk (NFA), the KASBTC chart is showing (green circle) that KAS recently had the lowest momentum and most oversold properties, relative to BTC, in its history on the CoinEx exchange. This coincides with it touching a logarithmic support line (turquoise line). Now of course, BTC has pumped up to an upper resistance trendline recently. If KAS remains stagnant, then what happens next to BTC (and whether it breaks through that resistance line), will have a large impact on whether KASBTC jumps from this support line (turquoise line). The other option is that KAS starts massively outperforming BTC again. Either way, the charts effectively show that, provided you believe in the project, this is the lowest risk buy for KAS in a long time (April of this year was the last time the risk was effectively this low). If you look at kasparainbowchart.com, which is based primarily off of the power law, it also is at it's most bearish extreme (in fact, that website gleefully states that "Kaspa is Dead", however I hope that is tongue in cheek, given that it has recovered from that extremes before, however that was only once in 2022, relatively close to its genesis and long before the power law was even a consideration). Ultimately, I personally feel that KAS needs Tier 1 exchanges to compete in this cycle. The tech is the best, but if the volume doesn't come in, investors may start to lose faith. For now, I will hold strong.
For anyone looking to minimise risk (NFA), the KASBTC chart is showing (green circle) that KAS recently had the lowest momentum and most oversold properties, relative to BTC, in its history on the CoinEx exchange. This coincides with it touching a logarithmic support line (turquoise line). Now of course, BTC has pumped up to an upper resistance trendline recently. If KAS remains stagnant, then what happens next to BTC (and whether it breaks through that resistance line), will have a large impact on whether KASBTC jumps from this support line (turquoise line). The other option is that KAS starts massively outperforming BTC again. Either way, the charts effectively show that, provided you believe in the project, this is the lowest risk buy for KAS in a long time (April of this year was the last time the risk was effectively this low). If you look at kasparainbowchart.com, which is based primarily off of the power law, it also is at it's most bearish extreme (in fact, that website gleefully states that "Kaspa is Dead", however I hope that is tongue in cheek, given that it has recovered from that extremes before, however that was only once in 2022, relatively close to its genesis and long before the power law was even a consideration). Ultimately, I personally feel that KAS needs Tier 1 exchanges to compete in this cycle. The tech is the best, but if the volume doesn't come in, investors may start to lose faith. For now, I will hold strong.
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